Next Buyback

[SasoLithops]

Hello KtonDAO members!

At the time of writting KtonDAO holds next funds:

1.918.586 RING in Treasury wallet on Darwinia Chain
https://darwinia.subscan.io/account/0x08837De0Ae21C270383D9F2de4DB03c7b1314632?tab=transfer
1.021.635 xRING in Safe Trasury wallet on Base Chain
624,961 xKTON in Safe Trasury wallet on Base Chain
https://app.safe.global/balances?safe=base:0x86394271Bb8C604b1F4E692624C45e751Cc7577B
321 RING in dSafe Treasury wallet on Darwinia Chain
https://dsafe.darwinia.network/home?safe=darwinia:0x9497c0474c0Bba76942AD553DA91F4e52df45E8f
0,01044 CBBTC in Safe Trasury wallet on Ethereum Chain
https://app.safe.global/balances?safe=eth:0x86394271Bb8C604b1F4E692624C45e751Cc7577B

and

there should be xKTON and xRING on Uniswap Base Liquidity pool.

PROPOSAL:

Adding together 1.918.586 RING and 1.021.635 RING equals around 2.940.000 RING

We can buy:

KTON in two/three transactions equaling 1.500.000 RING

and

cbBTC in two/three transactions equaling 1.440.000+ RING

Reasons behind this buyback decision remain the same. We use cbBTC in future to fund development. Kton buyback would be mostly to make KTON more scarce and having it in treasury. And if we need more funds for development, we are no longer so dependand only on RING and its price.

If you have any objections/comments feel free to reply.

[A-hogic]

Hi Saso. is this the same buyback we discussed last October, or is this a new one? Crazy how fast time flies and what is happening in the market. Hope you're doing great and let's do this.

[SasoLithops]

Hi @A-hogic I am fine thank you. Hope you doing well too.
Time does fly🚀⏳😅 It is a new buyback 😀

[Laki389]

@SasoLithops

Saso, I tried to understand the order of things, but it's hard to do because it's scattered across Github discussions, Tally governance (by the way, Tally proposals are missing, unfortunately) and TG.

Those 749 KTON that are a donation from Darwinia Treasury are in the aforementioned Uniswap Base Liquidity pool, right?

In that case, these 624 KTON are from previous buybacks, correct?

I agree with the option you mentioned at Round Table TG, instead of all 1 500 000 RING being used for the KTON buyback, half of the $ value to be used to buy KTON and the remaining RING to be used to increase Snowswap's liquidity, which is currently relatively low...
Or did you mean Base?

[SasoLithops]

Hey @Laki389 !

You are correct on both. Darwinia Kton giveaway is in Base LP, and 624 KTON is from previous buyback.

As for increasing liquidity I thought on Snowswap as you suggested. Your point was on spot👏

You also made me think if liquidity on Base atm makes sense at all and if we should move it to Snowswap?

[Laki389]

You also made me think if liquidity on Base atm makes sense at all and if we should move it to Snowswap?

@SasoLithops
That's a good reason for another Temp Check discussion.
Is it even possible to trade on Base at the moment? Is it something like an isolated pool?

[SasoLithops]

@Laki389 I agree I will start one, but first I checked in Kton DAO TG with Bear and Denny what is their opinion on this: "Is it even possible to trade on Base at the moment? Is it something like an isolated pool?" Based on their reply we can continue with further plans.

[2xJDubs]

I am in support of new buybacks. I would also support using KTON held or bought to add more liquidity to snowswap for the KTON/RING pair.

[SasoLithops]

Hey @2xJDubs

I agree. We will do it that way.